The modern approach to doing business combines fair payment for the work of specialists with comprehensive cost optimisation. This can be achieved by hiring remote employees and creating hybrid workplaces. Many companies also hire freelancers and turn to outsourcing agencies, engaging additional employees only during certain projects.
This can significantly reduce costs but proportionally complicates financial calculations. In such conditions, the payroll programme becomes excessively cumbersome, which leads to delays in payments, accounting errors, and a deterioration in the business’s reputation. To avoid these problems, you should connect the Wallester Business automated corporate finance management platform. Let’s find out how it works and what its advantages are.
Where to Start?
The first step is to create your account. When applying, you go through the KYC (Know Your Customer) procedure, entering information about your business in a simple survey form. Your account will be ready once the application is approved, which usually takes one business day.
The next step is to invite future payroll cardholders. To do this, you specify their contact information by entering it manually or uploading a ready-made table. They will receive a link to install the Wallester mobile application. To activate their accounts, they need to upload a selfie and photo ID.
The third and final step is to set up payments. You can set them up manually or connect your accounting software using an open API. Wallester offers you various automation tools that allow you to pay less attention to routine bureaucracy and more attention to creativity and making important management decisions. The platform also allows you to create one-time and recurring payments with customised scenarios.
What are the Benefits for Business?
Wallester Business payroll cards allow you to manage all payments to employees, freelancers, outsourcers, and independent consultants in one cloud-based platform. Managers, accountants, and financial specialists can access it from anywhere in the world. Moreover, the system offers additional functions, such as managing the expenditure of funds in a corporate account.
The platform also provides businesses with the following benefits:
- Affordable pricing plans. The cost of services starts at just 1 euro for each payroll card participating in the program.
- The possibility of payment batch processing — up to 1,500 payments at a time. You can upload payment details in spreadsheets or transfer them from accounting programs via API.
- Support for many money transfer methods. The system offers you international payments with minimal transaction fees.
- Fast payment processing. Information is processed within one minute. The service is available 24/7.
- Complete security. Wallester solutions support 3D Secure and PCI-DSS Level 1 technologies, which guarantee reliable protection against unauthorised access to corporate finances and the use of funds in fraudulent schemes.
- Advanced analytics. You can view all payments for previous periods. The system allows you to analyse them by specific areas, spending purposes, individual counterparties, or groups of counterparties.
How Can You Motivate Recipients?
At first glance, for employees and contractors, the Wallester payroll programme is not much different from similar bank solutions. However, the convenience of cloud service management, the availability of batch payment processing tools, and an open API ensure that funds are received on time — without delays or errors. In addition, the platform provides recipients with the following benefits:
- No additional costs. Funds are transferred to virtual salary cards without commissions. Users of the mobile application also do not pay any subscription fees or service charges.
- Maximum convenience. The card supports the world’s most popular electronic payment systems, including Apple Pay and Google Pay. It can be used to purchase goods and services without transferring funds to other accounts.
- Versatility. The European IBAN is attached to the payroll card. This means funds can be transferred to it by the Wallester Business platform administrator and other counterparties.
- Full control. The mobile application provides personal finance management functions. It helps you optimise expenses and increase the percentage of savings or investments.
Thanks to this, you do not need to provide additional motivation for employees and outsourcers to switch to an innovative payment system. Its benefits speak for themselves, making the cloud platform convenient for both parties.
Conclusion
A hybrid employment system that involves remote and temporary employees, as well as a combination of fixed and piecework wages, optimises costs but significantly complicates corporate finance management. However, you can overcome this problem by using the Wallester Business service. It provides fast, secure payments to all virtual cardholders, as well as tools for payment automation and in-depth transaction analytics. The platform is convenient for businesses and ordinary users as it offers zero transfer fees, convenient use of funds on the account, and full control over expenses.
